Is bitcoin being used for illegal activities - page 33.

ged00u

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Quote from: rosablu on October 28, 2016, 03:07:34 AM

Anything can be used for illegal activities.
I think that the main reason why btc has been rejected by society is that there's still much to learn about it and it's easier for them to speak ill of it than to try and deal with it.

I agree with you. Fiat has been used for many illegal activities for over centuries and no one actually wants to reject it. As long as bitcoin keep developing, no one can ban it or even ignore it.

South Park

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Quote from: Mark02 on October 27, 2016, 06:49:01 PM

Quote from: South Park on October 27, 2016, 03:19:26 PM

Quote from: 2double0 on October 27, 2016, 10:27:09 AM

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

You bring good points and I agree with them, bitcoins offers a lot more than irreversible payments, I think they also use bitcoin because your wallet cannot be frozen unlike other payment methods so they can withdraw their bitcoins at their leisure.

sambaevida

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I too think that these articles are trying to destroy btc reputation.

rosablu

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Anything can be used for illegal activities.
I think that the main reason why btc has been rejected by society is that there's still much to learn about it and it's easier for them to speak ill of it than to try and deal with it.

Adbitco

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One should not forget the fact that bitcoin like dollar is also a form of money and money can be used and abused so the question if bitcoin can be used for illegal purposes is a foolish question.

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Quote from: Senor.Bla on October 28, 2016, 02:07:58 AM

Quote from: Ryananda on October 27, 2016, 11:19:34 PM

Quote from: sonnyacg on October 27, 2016, 10:47:08 PM

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

True, the use of bitcoin is legal or illegal depending on each user. Because if bitcoin used wisely would be very advantageous, but on the contrary if used unwisely it would be detrimental.

is bitcoin being used for illegal activities? yes. is this good or is this bad? this is good! why? because bitcoin does not care who is paying whom or for what reason. this is for money more important then many realize. if there was a possibility that someone could decide who can use bitcoin and who not, then this power would be abused.
and let us face it. bad people will do bad thing and they will use money to do so. if bitcoin is considered a good form of money, then they will use bitcoin.
it is not the job of bitcoin to do something against those criminals. it is the job of the law, cops, jurisdiction.

Good for the overall market as what we are after is the increase of circulation and we know how big is the volume needed in the transaction of illegal activities, they might also be the reason why bitcoin is still alive now and progressive..

TheGodFather

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I see yes bitcoin is uses in illegal activities too where people are buying some illegal gun's and illegal medecines from dark net nor dark web thre are collecting too much illegal items to resell it in there country. Some of the them are good too but there are using it so that they can't trace the transaction money if ever.

Senor.Bla

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Quote from: Ryananda on October 27, 2016, 11:19:34 PM

Quote from: sonnyacg on October 27, 2016, 10:47:08 PM

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

True, the use of bitcoin is legal or illegal depending on each user. Because if bitcoin used wisely would be very advantageous, but on the contrary if used unwisely it would be detrimental.

is bitcoin being used for illegal activities? yes. is this good or is this bad? this is good! why? because bitcoin does not care who is paying whom or for what reason. this is for money more important then many realize. if there was a possibility that someone could decide who can use bitcoin and who not, then this power would be abused.
and let us face it. bad people will do bad thing and they will use money to do so. if bitcoin is considered a good form of money, then they will use bitcoin.
it is not the job of bitcoin to do something against those criminals. it is the job of the law, cops, jurisdiction.

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Quote from: Ryananda on October 27, 2016, 11:19:34 PM

Quote from: sonnyacg on October 27, 2016, 10:47:08 PM

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

True, the use of bitcoin is legal or illegal depending on each user. Because if bitcoin used wisely would be very advantageous, but on the contrary if used unwisely it would be detrimental.

That is applicable also in other alt coins and as long as their is value that can be converted to money. Syndicates will keep on using it for illegal activities.

But since we are not those people who are using bitcoin in illegal activities, let's encourage people to use it in a good manner.

And let's don't get involved into problems.

Ryananda

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Quote from: sonnyacg on October 27, 2016, 10:47:08 PM

I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

True, the use of bitcoin is legal or illegal depending on each user. Because if bitcoin used wisely would be very advantageous, but on the contrary if used unwisely it would be detrimental.

sonnyacg

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I think all of that back to the user, in general, every person has two properties in his life. namely the bright side and a dark side. so that the same as using bitcoin. if used illegal means the person has a dark side of her life. we who believe in the existence of God, it would be wise to use this life for the good of all. I prefer to do good in this life.

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Quote from: boyptc on October 27, 2016, 09:15:22 PM

Quote from: goldcoinminer on October 27, 2016, 08:48:52 PM

Quote from: Mark02 on October 27, 2016, 06:49:01 PM

Quote from: South Park on October 27, 2016, 03:19:26 PM

Quote from: 2double0 on October 27, 2016, 10:27:09 AM

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

The authorities cannot freeze your account until in the bank when you are suspected to be a money launderer you account will be frozen. In bitcoin there's freedom for everyone and all people can use their bitcoin on the purpose they want to may it illegal or not.

Exactly, that is why many people in the deep web are using bitcoin for each of their illegal transactions because they are secured with bitcoin. They don't even need to provide some information just to send and receive bitcoins from their dealer. This is not new, it all started with fiat money and even with credit / debit and even paypal transactions.

Thought I know how to access deep web but I do not try using my bitcoin their, since gambling is illegal in our country.. I just use it for gambling purposes, and I am a little proud that I have use my bitcoin for illegal activities which is gambling..

boyptc

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Quote from: goldcoinminer on October 27, 2016, 08:48:52 PM

Quote from: Mark02 on October 27, 2016, 06:49:01 PM

Quote from: South Park on October 27, 2016, 03:19:26 PM

Quote from: 2double0 on October 27, 2016, 10:27:09 AM

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

The authorities cannot freeze your account until in the bank when you are suspected to be a money launderer you account will be frozen. In bitcoin there's freedom for everyone and all people can use their bitcoin on the purpose they want to may it illegal or not.

Exactly, that is why many people in the deep web are using bitcoin for each of their illegal transactions because they are secured with bitcoin. They don't even need to provide some information just to send and receive bitcoins from their dealer. This is not new, it all started with fiat money and even with credit / debit and even paypal transactions.

goldcoinminer

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Quote from: Mark02 on October 27, 2016, 06:49:01 PM

Quote from: South Park on October 27, 2016, 03:19:26 PM

Quote from: 2double0 on October 27, 2016, 10:27:09 AM

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

The authorities cannot freeze your account until in the bank when you are suspected to be a money launderer you account will be frozen. In bitcoin there's freedom for everyone and all people can use their bitcoin on the purpose they want to may it illegal or not.

Mark02

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Quote from: South Park on October 27, 2016, 03:19:26 PM

Quote from: 2double0 on October 27, 2016, 10:27:09 AM

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

Yeah you are right. They choose bitcoin because once it is sent to you. It can never be reversed. Plus, the fact that it is a crypto-currency. They can easily hack that since it is online based. Even though the developers put some safety measures to prevent those but the hackers are very good that it can penetrate the security and the restrictions they put. The anonymity is just another factor why hackers choose bitcoin and not credit or debit cards because there is a chance they can be caught when withdrawing in banks or ATM's when they hacked Cards.

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Quote from: South Park on October 27, 2016, 03:19:26 PM

Quote from: 2double0 on October 27, 2016, 10:27:09 AM

Yes as every now and then, news come up saying that some hackers or stealers are asking for extortion money in terms of bitcoins as they know that this is non-traceable and that's the biggest harm that is being done to the bitcoin community.

I don’t think the reason hackers ask for bitcoins is the anonymity, the reason is because in bitcoin you cannot reverse payments unlike credit cards, PayPal, and other electronic means of payments.

This is true.Hackers are usually works in groups and use various techniques to conceal their identity.They are also aware that bitcoin is not purely anonymous.
Take for example Chinese hackers,they are supported by their government and they usually steal data from US government websites.They are sure that even if US agencies trace them,they can not be caught but there also demand Bitcoin for unlocking the hacked websites

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Quote from: jeffthebaker on October 27, 2016, 03:39:09 PM

Quote from: cjmoles on October 27, 2016, 03:35:36 PM

Quote from: poplolnman on October 27, 2016, 06:09:38 AM

Quote from: cjmoles on October 27, 2016, 01:36:48 AM

All good currencies are used for things that may not be legal in all jurisdictions. Bitcoin is no different in those regards. And, bitcoin is not as anonymous as may be assumed as far as transaction activity is concerned; in fact, every bitcoin transaction is recorded on an immutable ledger and distributed to anybody who wants it. Bitcoin transactions cannot be as opaque as cash transactions which remain the preferred currency for black markets.

things what make a lot of people make bitcoin as their favorite currency to make an illegal transaction are due its anonimity in term you will like invisible when you received or send money you will not have to see a name , address etc that any other currency required. this is the only thing that mostly misused.

But, cash leaves no trail at all. Bitcoin transactions are recorded in a ledger, are not righteously fungible, and can be traced using advanced blockchain analytics....Plus, converting bitcoin back to a more preferred currency opens the door to post transaction identification methods. Bitcoin is not as suited for illegal transactions as many may assume.

You can hide your identity through mixing services and using new addresses, however. If you want anonymity with Bitcoin it's certainly possible, just not an automatic guarantee.

everything are depends on how we treat and use something
even you can make a good things to something bad if you misused it
so do in bitcoin , basically bitcoin are a good thing but people out there abuse it
use it for something illegal , which good people never think on it.

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Quote from: jeffthebaker on October 27, 2016, 03:39:09 PM

Quote from: cjmoles on October 27, 2016, 03:35:36 PM

Quote from: poplolnman on October 27, 2016, 06:09:38 AM

Quote from: cjmoles on October 27, 2016, 01:36:48 AM

All good currencies are used for things that may not be legal in all jurisdictions. Bitcoin is no different in those regards. And, bitcoin is not as anonymous as may be assumed as far as transaction activity is concerned; in fact, every bitcoin transaction is recorded on an immutable ledger and distributed to anybody who wants it. Bitcoin transactions cannot be as opaque as cash transactions which remain the preferred currency for black markets.

things what make a lot of people make bitcoin as their favorite currency to make an illegal transaction are due its anonimity in term you will like invisible when you received or send money you will not have to see a name , address etc that any other currency required. this is the only thing that mostly misused.

But, cash leaves no trail at all. Bitcoin transactions are recorded in a ledger, are not righteously fungible, and can be traced using advanced blockchain analytics....Plus, converting bitcoin back to a more preferred currency opens the door to post transaction identification methods. Bitcoin is not as suited for illegal transactions as many may assume.

You can hide your identity through mixing services and using new addresses, however. If you want anonymity with Bitcoin it's certainly possible, just not an automatic guarantee.

True, there are measures that can be taken to swap dirty coin for washed coin which reduces some of the funbility concerns. But, there's not much that can be done to insure the original transaction's opaque, especially in light of peripheral data mining techniques which we know are being covertly applied to our internet activities. And, bitcoin conversion back to fiat remains a problem when considering peripheral data collection in conjunction with AML/KYC regulations with pre-washed coin....right?

Edit: Not that I've put much thought into it....this is just coming off the top of my head.

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Quote from: cjmoles on October 27, 2016, 03:35:36 PM

Quote from: poplolnman on October 27, 2016, 06:09:38 AM

Quote from: cjmoles on October 27, 2016, 01:36:48 AM

All good currencies are used for things that may not be legal in all jurisdictions. Bitcoin is no different in those regards. And, bitcoin is not as anonymous as may be assumed as far as transaction activity is concerned; in fact, every bitcoin transaction is recorded on an immutable ledger and distributed to anybody who wants it. Bitcoin transactions cannot be as opaque as cash transactions which remain the preferred currency for black markets.

things what make a lot of people make bitcoin as their favorite currency to make an illegal transaction are due its anonimity in term you will like invisible when you received or send money you will not have to see a name , address etc that any other currency required. this is the only thing that mostly misused.

But, cash leaves no trail at all. Bitcoin transactions are recorded in a ledger, are not righteously fungible, and can be traced using advanced blockchain analytics....Plus, converting bitcoin back to a more preferred currency opens the door to post transaction identification methods. Bitcoin is not as suited for illegal transactions as many may assume.

You can hide your identity through mixing services and using new addresses, however. If you want anonymity with Bitcoin it's certainly possible, just not an automatic guarantee.

cjmoles

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Quote from: poplolnman on October 27, 2016, 06:09:38 AM

Quote from: cjmoles on October 27, 2016, 01:36:48 AM

All good currencies are used for things that may not be legal in all jurisdictions. Bitcoin is no different in those regards. And, bitcoin is not as anonymous as may be assumed as far as transaction activity is concerned; in fact, every bitcoin transaction is recorded on an immutable ledger and distributed to anybody who wants it. Bitcoin transactions cannot be as opaque as cash transactions which remain the preferred currency for black markets.

things what make a lot of people make bitcoin as their favorite currency to make an illegal transaction are due its anonimity in term you will like invisible when you received or send money you will not have to see a name , address etc that any other currency required. this is the only thing that mostly misused.

But, cash leaves no trail at all. Bitcoin transactions are recorded in a ledger, are not righteously fungible, and can be traced using advanced blockchain analytics....Plus, converting bitcoin back to a more preferred currency opens the door to post transaction identification methods. Bitcoin is not as suited for illegal transactions as many may assume.

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